The New Zealand dollar continue its drop series that began last week

New Zealand Dollar levels declined during the session on Monday with the beginning of the week comes in light of the continued decline on the New Zealand currency series since last week after witnessing a rise to the highest level in ten months.

New Zealand Dollar against the US dollar pair is currently trading at 0.6843 level after recording lows at 0.6841 while today's session opened at 0.6866 level this comes after the pair fell on Friday to its lowest level in a week at 0.6835.

The current decline in New Zealand Dollar levels comes after the pair recorded the highest level during the last week in ten months at the level of 0.7057 which stimulated sales for the pair to engage in a negative correction downward.

This and the New Zealand dollar's decline today comes despite the decline in US dollar against major currencies in today's trading with the beginning of the week, which would support the rising New Zealand dollar because of the inverse relationship between them, while we find that traders on the pair decided to continue the decline before the meeting of the Federal Reserve Bank this week, which could push the US dollar to move.

The dollar index, which tracks the dollar's performance against major currencies witnessed a decline since the beginning of today's session, to hit the lowest level at 94.96 after it opened today's session at the level of 95.14 to currently trade at 95.00 level, comes after the euro rose on Friday to its highest level in three week at 95.20.